U.S. President Donald Trump struck a defiant tone on Friday, saying trade wars were good and easy to win, after his plan to put tariffs on imports of steel and aluminium triggered global criticism and a slide in world stock markets.
The proposed acquisition also includes an offer for Rio’s 53% stake in the Aluchemie anode plant in the Netherlands and its 50% share in the Alufluor aluminum fluoride plant in Sweden.
The Commerce Department last week revealed its import restriction options for Trump, including a 7.7% global aluminum tariff on products from all countries.
Asia’s No.1 carmaker has developed a magnet that reduces dependence on neodymium, a key rare earth metal used in the world’s most powerful batteries for electric vehicles.